Results in: Did Maersk Break a Billion in Q2?


Maersk has posted its Q2 results for 2015 showing the company’s Q2 profit as US$1.1bn. Despite breaking a billion, the result is around $500 million lower than Q1 as it was impacted by the lower oil price and lower average container freight rates.

The group’s previous profits were also massively boosted after shares were sold in Danske Bank for more than $220 million.

The $1.1 billion amount underlies a decrease in Maersk Line, Maersk Oil and APMT, with increases seen for Maersk Drilling and APM Shipping Services.

Maersk Group CEO Nils Anderson said: “In a quarter impacted by lower average container rates and a lower oil price, the Maersk Group achieved a satisfactory result with an underlying profit of US$1.1bn and maintain the expectation of an underlying result of around US$4 billion for the year.

“We reiterate our strategic direction of targeting profitable growth with top-quartile performance and a ROIC above 10% over the cycle in all business units.

“The turbulence in the oil price has had a negative influence in the oil and offshore markets and countries dependent on oil. This has changed the outlook for Maersk Oil, Maersk Drilling, APM Terminals and APM Shipping Services, where previously announced profit and growth targets will be replaced by plans adapting to the volatile environment.

“The balance sheet remains strong and the Board has decided to launch a buy-back programme aiming at US$1 billion.”

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